Part of the raison d’etre of #StockMarketWatch is to fill in the gaps left by the mainstream media.
The stock market has a language all of its own, with “ahead of expectations” a pretty good thing to see in an RNS. However, a rule which normally serves well is when the price of a stock remains at or above its placing price. A good example of this recently was a 6p placing at Rainbow Rare Earth (RBW) at the end of November. The lowest the stock traded after the announcement was 7p, versus 14p now. It may be the case we are looking at a similar scenario with a placing at Immedia (IME) 0.25p, accompanied by warrants on a 1 for 1 basis at 35p. Shares of the digital solutions group, with an all-star investor shareholder register, oscillated between 27p and 36.8p in the wake of the news. They closed up 6% at 32.5p.
It would appear that the recent investing and stakebuilding at tech investor Pires (PIRI) including Defi play Yop and sports betting platform Low6, the company at the zeitgeist in terms of the new economy. This point was underlined by a further 7% rise in the share price and confirmation that shareholder Ashok Patel has raised his stake in the company to 5%. Investment company Riverfort (RGO), which has over 20% of Pires, saw its shares rise another 11%.
Venture builder BigDish (DISH) saw its shares deliver a late flourish, with a 36% rise, the best performance since early December. Last month the company said it would update the market in January regarding the creation of a new listed entity as well as progress on a new business opportunity in the wider food sector.
Another situation where some traders were playing the waiting game, and perhaps trying to second guess the arrival of newsflow, was at Midatech Pharma (MTPH). Perhaps ironically, the shares here have had more false dawns than the pandemic. Nevertheless, they rose 12% off the back of the possibility of licensing deals for its drug delivery technology in Q1 2021, clearly a disagreeably large timeframe in just the second week of January. However, some traders were pointing to potential developments regarding Midatech licensee Emergex, making progress in the COVID-19 vaccine area.
Diversified investment company Gunsynd (GUN) managed to resist cooling off in the precious metals space, as it unveiled a new investor presentation, something which has come in the wake of a busy period for the group. This has included an investment in Rincon Resources where the stock doubled from the IPO price in a matter of days. Interestingly, the company also bought into the same Low6 sports betting platform that has boosted shares of tech investor Pires of late. Gunsynd shares edged up 1.5%.
There was perhaps an understandable cooling off of crypto-miner Argo Blockchain (ARB) shares, after belatedly being highlighted in two mainstream media publications. Happily, though, Bitcoin Jar specialist Mode (MODE) rose another 5% off the back of being featured in the Daily Mail, but perhaps, more importantly, having been runner up in the ShareTalk stock of the year for 2021 last week. The company also managed to find time to be interviewed on ShareTalk, as it celebrated accelerating new client interest and business in the crypto space.
Another stock in the top 20 of the 2021 ShareTalk hit parade started to show some traction after the pixie dust of being in the A-Listers started to kick in. Shares of Deepmatter (DMTR) were up 21%, as the chemistry digitisation specialist enjoyed the aftermath of last months announcement of a three-year contract with Thieme Chemistry. At the time the company said it was looking forward to exploring new ways of unlocking the potential of its technology, something which could be the trigger for institutional buying in the shares. The latest rise for the stock could be an indication of such a move.
Integrated CBD play Zoetic (ZOE) bounced back towards its recent highs through 80p, in the wake of the announcing its inclusion on the OTCQX market in the US, as well as being included on the MSCI microcap index, something which would logically improve liquidity and profile for the already popular listing here in the UK. In addition to this, the company said that it was only at the first leg of a multi-year period of sustainable growth, with the shares up 7p.
There was a decent 10% share price rally for copper-gold specialist Xtract Resources (XTR), in the wake of the previous day’s drilling programme update on its Bushranger Project, located in the Lachlan Fold Belt, New South Wales, Australia. The company said the drilling will now continue from the current depth in order to define the total depth and continuity of the porphyry.
(The opinions expressed here are those of the author, a columnist for Share Talk.)
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